© Reuters. The German share rate index DAX chart is visualized at the stock market in Frankfurt, Germany, September 29, 2023. REUTERS/Staff/File Picture
( Reuters) – European shares extended losses on Tuesday as a rise in U.S. Treasury yields and the dollar installed pressure on dangerous possessions like equities and products, while downbeat brokerage views weighed on style merchants.
Strong financial information and the passage of a U.S. financing costs to avoid a federal government shutdown improved the dollar to 11-month highs and the to a fresh multi-year peak.
The pan-European index fell 0.3%, hovering around the six-month low touched in the previous session. Energies and miners were the greatest sectoral losers.
Shares of German online style merchant Zalando moved 2.8% after Deutsche Bank cut projection for adjusted profits prior to interest and taxes, while British high-end company Burberry dropped 3.1% following a UBS downgrade.
Novo Nordisk (NYSE:-RRB- climbed up 1.9% after a U.S. patent workplace tribunal rejected demands by Mylan (NASDAQ:-RRB- Pharmaceuticals to examine the credibility of the patents owned by Novo covering the active component in its weight-loss and diabetes drugs Wegovy and Ozempic.
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